Tas Government Acts on Power Prices

Last week the State Government intervened to mitigate the impact of massive wholesale price increases on Tasmanian households and businesses.
Tasmanian Wholesale "Energy Only" pricing for next Financial Year (2017/18) had hit $126/MWh in March, which was more than double the $52/MWh the same parcel of energy was trading for at the same time last year.

Last month Goanna Energy Consulting led a delegation of Tasmania's Peak Industry Bodies to the Energy Ministers Office. Together we provided concrete examples of the impacts on a broad range of business sectors. The Government's intervention last week has seen an 18.5% reduction in Tasmanian forward wholesale prices, as shown below.

Wholesale pricing flows into your energy contract, but only makes up around half the cost of your businesses energy bill, whilst TasNetworks Regulated Transport tariffs make up the other half. Network tariffs for "Large" sites, which consume over 150MWh per annum (around $40,000 pa), are totally independent of your choice of Retailer and Energy Contract. Network tariff nominations are a customers responsibility and you can nominate your preferred choice every 12 months, more often if you have made significant operational changes. 

From the 1st of July 2017 TasNetworks rates will be reduced by around 10 - 20% and an increased range of Network tariff choices will be offered. Goanna clients who subscribe to our Business Intelligence Platform will automatically have the optimal choice of Network Tariff identified for each of their sites, as shown in the example below.


Ready to have real business intelligence at your fingertips? Call Marc White now on 0418 596 162 to set up your in house BI demonstration.
 
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Want to know more about Goanna Energy services? Phone Marc White on 0418 596 162 for more information or follow him on Twitter at https://twitter.com/MarcBWhite

While Goanna has endeavored to ensure that the information contained within this newsletter is accurate, we do not make any warranties or representations in relation to the accuracy of the information contained herein.
 
This newsletter is intended as general advice only and is not intended to constitute personal financial product advice. It is has been prepared without taking into account the personal circumstances, financial needs or objectives of any one person or organisation. Accordingly, individuals or organisations who seek to rely on information contained within this newsletter should undertake their own independent enquiries and seek legal or financial advice prior to doing so.
 
Disclosure: Tasmanian Energy Brokers Pty Ltd is an affiliated business of Goanna Energy Consulting Pty Ltd.

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